We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Meta Platforms (META) Launches Meta Quest Pro for Metaverse
Read MoreHide Full Article
Meta Platforms (META - Free Report) is on track to make the metaverse a reality. At Meta Connect, Mark Zuckerberg announced the launch of its first high-end virtual reality (VR) headset, Meta Quest Pro, addressing that ambition.
Meta previously announced that it will spend more than $3 billion in the next 10 years on VR. The company is investing heavily to develop a VR content ecosystem and expects this to generate positive ROI for the company in the long run. As such, the launch of its latest VR headset is in accordance with its long-term plan to build the metaverse.
The newly launched VR headset will begin shipping on Oct 25, priced at $1,499.99. Along with the headset, users will also be provided Meta Touch Pro controllers, styleus tips, partial light blockers and a charging dock.
To build the metaverse, Meta Platforms has partnered with PyTorch foundation co-founder Microsoft (MSFT - Free Report) .
Microsoft Chairman and CEO Satya Nadella joined Mark Zuckerberg at the Meta Connect event to announce the new partnership, bringing new work and productivity tools to Meta Quest Pro and Meta Quest 2 next year. These include apps like Microsoft Windows 365 and Microsoft Teams and the ability to join a Teams meeting from inside Meta Horizons Workrooms.
However, one of the major features that will bring the metaverse to reality is artificial intelligence (AI). At the Meta Connect event, META’s Reality Labs team, which is working on building the metaverse, announced how it is using AI and electromyography to create a more intuitive, human-centered interface and new features in the metaverse.
Meta will spend more than $3 billion in the next 10 years on VR. The company is investing heavily to develop a VR content ecosystem and expects this to generate positive ROI for the company in the long run.
Meta is currently facing the worst downturn in its history due to the global macroeconomic situation, geopolitical tensions, rising inflation and interest rate hike by the Federal Reserve. This has hurt Meta’s share price negatively.
The stock, which currently has a Zacks Rank #5 (Strong Sell), has tumbled 61.8% in the year-to-date period compared with the Zacks Internet – Software industry’s decline of 57.6%.
Meta’s financial plans to generate sufficient operating income from its Family of Apps business segment to fund the growth of its Reality Labs have taken a major hit. The company has been recently closing various long-term projects, which is burning a lot of cash.
In September, Meta announced that it discontinued its cryptocurrency wallet pilot project — Novi. This is a major setback for the company in its efforts to develop the metaverse as an independent commercial platform as both the crypto and NFT markets crashed.
Also, intensifying competition for ad dollars and user engagement from the likes of Snap (SNAP - Free Report) , Twitter and TikTok is another persistent headwind.
Snap is benefiting from improving user engagement, particularly in the 13-34-year-old demography, which is expanding its advertiser base. SNAP is also giving competition to META in the metaverse space. It collaborated with Vogue to feature a virtual try-on experience of select pieces from Balenciaga, Dior and Gucci, which will be available for snapchatters, globally.
Even as Meta is investing aggressively in building the metaverse, Twitter surpassed it as the first social media giant to enter the non-fungible token marketplace by launching a tool to showcase and sell NFTs on its platform.
Although Meta’s short-term revenue growth looks bleak, the company is confident about its long-term prospects. It is investing heavily in developing AI, which will drive revenue growth in its ad business.
Reels are the newest trend right now, and the feeds are increasingly being recommended by AI. This will enable Meta to evolve its ad systems to help creators earn through Facebook and Instagram, and create new ad revenues for the company.
This will help provide funds for building the metaverse and aid the company in generating positive returns from its investments in AI.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Meta Platforms (META) Launches Meta Quest Pro for Metaverse
Meta Platforms (META - Free Report) is on track to make the metaverse a reality. At Meta Connect, Mark Zuckerberg announced the launch of its first high-end virtual reality (VR) headset, Meta Quest Pro, addressing that ambition.
Meta previously announced that it will spend more than $3 billion in the next 10 years on VR. The company is investing heavily to develop a VR content ecosystem and expects this to generate positive ROI for the company in the long run. As such, the launch of its latest VR headset is in accordance with its long-term plan to build the metaverse.
The newly launched VR headset will begin shipping on Oct 25, priced at $1,499.99. Along with the headset, users will also be provided Meta Touch Pro controllers, styleus tips, partial light blockers and a charging dock.
To build the metaverse, Meta Platforms has partnered with PyTorch foundation co-founder Microsoft (MSFT - Free Report) .
Microsoft Chairman and CEO Satya Nadella joined Mark Zuckerberg at the Meta Connect event to announce the new partnership, bringing new work and productivity tools to Meta Quest Pro and Meta Quest 2 next year. These include apps like Microsoft Windows 365 and Microsoft Teams and the ability to join a Teams meeting from inside Meta Horizons Workrooms.
However, one of the major features that will bring the metaverse to reality is artificial intelligence (AI). At the Meta Connect event, META’s Reality Labs team, which is working on building the metaverse, announced how it is using AI and electromyography to create a more intuitive, human-centered interface and new features in the metaverse.
Meta will spend more than $3 billion in the next 10 years on VR. The company is investing heavily to develop a VR content ecosystem and expects this to generate positive ROI for the company in the long run.
Meta Platforms, Inc. Price and Consensus
Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote
Meta Banking on AI to Boost Top Line
Meta is currently facing the worst downturn in its history due to the global macroeconomic situation, geopolitical tensions, rising inflation and interest rate hike by the Federal Reserve. This has hurt Meta’s share price negatively.
The stock, which currently has a Zacks Rank #5 (Strong Sell), has tumbled 61.8% in the year-to-date period compared with the Zacks Internet – Software industry’s decline of 57.6%.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Meta’s financial plans to generate sufficient operating income from its Family of Apps business segment to fund the growth of its Reality Labs have taken a major hit. The company has been recently closing various long-term projects, which is burning a lot of cash.
In September, Meta announced that it discontinued its cryptocurrency wallet pilot project — Novi. This is a major setback for the company in its efforts to develop the metaverse as an independent commercial platform as both the crypto and NFT markets crashed.
Also, intensifying competition for ad dollars and user engagement from the likes of Snap (SNAP - Free Report) , Twitter and TikTok is another persistent headwind.
Snap is benefiting from improving user engagement, particularly in the 13-34-year-old demography, which is expanding its advertiser base. SNAP is also giving competition to META in the metaverse space. It collaborated with Vogue to feature a virtual try-on experience of select pieces from Balenciaga, Dior and Gucci, which will be available for snapchatters, globally.
Even as Meta is investing aggressively in building the metaverse, Twitter surpassed it as the first social media giant to enter the non-fungible token marketplace by launching a tool to showcase and sell NFTs on its platform.
Although Meta’s short-term revenue growth looks bleak, the company is confident about its long-term prospects. It is investing heavily in developing AI, which will drive revenue growth in its ad business.
Reels are the newest trend right now, and the feeds are increasingly being recommended by AI. This will enable Meta to evolve its ad systems to help creators earn through Facebook and Instagram, and create new ad revenues for the company.
This will help provide funds for building the metaverse and aid the company in generating positive returns from its investments in AI.